The most important factor in the real estate business is location. The value of a property highly depends on the surrounding area and its economic and social conditions. For the evaluation of existing investments and due diligence of future investment opportunities, location intelligence can be leveraged. It gives companies an advantage over the competition by identifying the potential of an area ahead of everybody else.
The detailed understanding of a location and emerging neighborhood trends gives investors a head start for buying or selling property in certain areas or regions. To align investment choices with requirements and needs, insights into the demographic of an area can be quite helpful. Utilizing data on population, households, purchasing power and consumer styles provides information not only on the demographic situation today but on how the area will evolve for the years to come after the investment decision.
For commercial properties, knowledge about how many people pass by and visit and also their duration of stay determines the value of a location. Therefore, location intelligence enables companies in the real estate business to find and invest in profitable commercial properties. In addition, matching tenant’s business concepts to the consumer behavior in the respective area reduces the risk of failing businesses and therefore turnover in leased commercial properties.
Location data can mean a competitive advantage in the real estate industry. By leveraging MBI’s Socio-Economic and Mobile Trace Data, companies can discover potential and make well-founded investment choices. If you are interested in optimizing your decision-making process with location intelligence, contact our Sales Team today.